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Will it work for you?

You can switch a mortgage on a house you live in, in Ireland, from any mortgage provider.

Your payments have to be up to date and your mortgage needs to have some equity in it, which means the balance is less than the value of the house.

If you have a tracker mortgage with another mortgage provider, you will lose it when you switch to us, so we recommend you get some independent financial advice before deciding to switch your mortgage.

Based on the information provided it would appear that you do not stand to make any savings by switching from your existing rate.
However, it may be worth talking to one of our mortgage advisors to review other options.
Please call us on 1890 242 425.

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Calculator Terms

If the calculator shows a positive figure, this is the potential amount that you could save per month by moving your mortgage to AIB.

This calculator is provided for illustrative purposes only. It does not constitute an offer of a mortgage or Approval in Principle. For that we will need more information and there are terms and conditions to our mortgages. The calculation is based on limited information and does not consider your financial circumstances, for example, where you are on an existing fixed rate with your current mortgage provider you may have to pay a breakage fee. Our calculator does not take into account fees that may need to be paid when switching your mortgage , such as legal or valuation fees and does not include the €2,000 switching offer.

In addition when you select a fixed rate option and you subsequently drawdown a mortgage on any fixed rate option you may be subject to an early breakage fee. (There is more about this in our regulatory warnings).

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We make switching easy…

The idea of switching your mortgage can be a little daunting, the paper work and the time it might take to sort it all out but we have a dedicated Switching team to help you. You can contact us on 0818 303 035 (lines are open Monday to Friday 9am – 9pm and Saturday 9am – 6pm) or request a call from one of our Mortgage Advisors or drop into your local branch and we’ll help you through every step of the process.

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Why choose us?

Your Mortgage Advisor will guide you through the mortgage journey, so you can focus on finding your new home

Competitive interest rates for people who live in their own home including Variable and Fixed. To find out more about our types of mortgage rates click here.

We’ll give you €2,000 to cover the cost of switching your home mortgage to us.

You can hold off paying your mortgage for the first six months after you move in, so you’re free to spend money on the finishing touches. We’ll delay collecting the payments and spread them over the rest of the home loan term.

No Fees – we won’t charge you those frustrating fees on your personal bank account if you use it for the direct debit to pay for your home loan on the house you will live in yourself.

If something happens and you need to take a payment holiday for up to six months, that’s OK, we’ll see what we can do for you, and spread the six months over the rest of the home loan term.

Repayment terms of up 35 years may be available to you.

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How it works

You will need to be over 18 and we will need security before we offer you a mortgage.

What you can borrow will also depend on what you can comfortably afford to repay monthly, this typically should not exceed 35% of your disposable income.

If you take a mortgage with a fixed rate of at least one year and decide to repay all, or part of it early, if you convert to a variable interest rate, or, if you change to another fixed interest rate we may charge you a an early breakage fee. Cost payable to Allied Irish Banks p.l.c., and/or AIB Mortgage Bank.

You will need to have Mortgage Protection Insurance which we can arrange for you, or you can buy it from another insurance company.

Keep in mind you will also need to use your own money to cover the cost of a valuation and your solicitor's fees. We will pay €2,000 to help with these costs within two months of mortgage drawdown.

A valuation of the new property must be carried out by a valuer on our residential mortgage valuers panel and can only be arranged by contacting our Central Valuations Team on 1890 100 051. This valuation will cost you €150. If the valuation of the property is undertaken more than four months before the requested date of drawdown of the loan or of the final stage payment, a re-valuation will be required which will cost you €65.

Talk to us about your mortgage

Drop in to your local branch and speak with a Mortgage Advisor today or phone the Switching team on 0818 303 035. They’ll explain exactly what’s involved, and answer your questions.

Other Information

Allied Irish Banks, p.l.c. is an authorised agent and servicer of AIB Mortgage Bank in relation to the origination and servicing of mortgage loans and mortgages. Allied Irish Banks, p.l.c. and AIB Mortgage Bank are regulated by the Central Bank of Ireland.

AIB Home Insurance is exclusively underwritten by AXA Insurance dac. AIB Insurance Services Limited is regulated by the Central Bank of Ireland. Allied Irish Banks, p.l.c. is tied to Irish Life Assurance plc, for life and pensions business. Allied Irish Banks, p.l.c. is regulated by the Central Bank of Ireland. Irish Life Assurance plc is regulated by the Central Bank of Ireland.

Before proceeding please read our Site Use Terms and Conditions, Privacy & Cookie statements which apply to your use of this website. AIB and AIB Group are registered business names of Allied Irish Banks, p.l.c. Registered Office: Bankcentre, Ballsbridge, Dublin 4